Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-69

not sure i agree that you cannot value the asset until dmoad is resolved. There should be 2 components to any deal.
1) upfront payment for OA rights or OA Dmoad rights. yes these numbers will be different but contracts can and do easily deal with that.
2) ongoing royalties on each sale. The percentage royalty would likely be the same or similar regardless of OA or dmoad. The prize for us is much larger for dmoad obviously as bp would get greater sales and we would get greater value of royalties.

i dont buy the line that we cannot do a deal until….i think that is just an excuse we make.
many orgs do conditional “subject to” deals.

i summise no one interested in doing a deal yet that reflects our definition of true value. Which is strange because by true value we are really talking about the royalty number as the upfront is relatively immaterial in the whole scheme of a blockbuster potential.